Tech Down as Traders Wary About Pace of Rally -- Tech Roundup

FeaturesDow Jones Newswires

Shares of tech companies declined as traders grew nervous about the pace and sustainability of recent gains on the stock market in general and among big tech companies in particular.

"We are in record overbought territory on a daily, weekly and monthly [basis]," said Lorenzo Di Mattia, manager of hedge fund Sibilla Global Fund.

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The European Union slapped chip designer Qualcomm with a 997 million euro ($1.23 billion) antitrust fine for illegal payments it made to customer Apple viewed as securing exclusivity as a supplier of chips to Apple's smartphones and other products.

Meg Whitman, the former head of eBay and the departing chief executive of Hewlett Packard Enterprise, is joining Jeffrey Katzenberg's WndrCo as the leader of one of the media and tech venture's planned portfolio of companies.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

January 24, 2018 17:02 ET (22:02 GMT)

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